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Thread: Economy Unemployment Rate Falls To 5.3 Percent, But For The Wrong Reason

  1. #11
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    Re: Economy Unemployment Rate Falls To 5.3 Percent, But For The Wrong Reason

    Quote Originally Posted by pinqy View Post
    "working age?" The age is 16 and older, no upper limit. 38 million of those 94 are age 65 and older. And 11 million disabled under 65.


    And last month we had a record number of people IN the labor force.
    According to the BLS, there were 432,000 less Americans in the labor force last month then in May.

    Employment Situation Summary Table A. Household data, seasonally adjusted


    I assume you meant 'May' when you said 'last month'?

    But, of course, since today is July, then last month was June not May.

    No biggie, but I'm just sayin'...
    Last edited by DA60; 07-02-15 at 12:00 PM.
    'What kind of sick and twisted toy factory is this?'
    'We are all the sum of our tears. Too little and the ground is not fertile, and nothing can grow there. Too much, the best of us is washed away.'
    "Better to be dead and cool, than alive and uncool."

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    Re: Economy Unemployment Rate Falls To 5.3 Percent, But For The Wrong Reason

    Quote Originally Posted by DA60 View Post
    Where are you getting this from?

    According to the BLS, there were 432,000 less Americans in the labor force last month then in May.

    Employment Situation Summary Table A. Household data, seasonally adjusted


    Or did you mean 'May' when you said 'last month'?
    I did mean May when I said last month. I was going by published month, not actual. My bad.
    Therefore, since the world has still/Much good, but much less good than ill,
    And while the sun and moon endure/Luck's a chance, but trouble's sure,
    I'd face it as a wise man would,/And train for ill and not for good.

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    Re: Economy Unemployment Rate Falls To 5.3 Percent, But For The Wrong Reason

    Quote Originally Posted by pinqy View Post
    I did mean May when I said last month. I was going by published month, not actual. My bad.
    No biggie...I have made TONS of mistakes on this stuff.
    'What kind of sick and twisted toy factory is this?'
    'We are all the sum of our tears. Too little and the ground is not fertile, and nothing can grow there. Too much, the best of us is washed away.'
    "Better to be dead and cool, than alive and uncool."

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    Re: Economy Unemployment Rate Falls To 5.3 Percent, But For The Wrong Reason

    We just need more " stimulus to increase aggregate demand ", that's all !

    I think Bernie Sanders is floating some good ideas to turn this economy around !

    Borrow and spend more.

    This President and his party are such a joke. A really really bad joke for Millions of Americans who are struggling to survive.

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    Re: Economy Unemployment Rate Falls To 5.3 Percent, But For The Wrong Reason

    Quote Originally Posted by DA60 View Post
    No biggie...I have made TONS of mistakes on this stuff.
    Is there a "biting my tongue" emoticon?
    Therefore, since the world has still/Much good, but much less good than ill,
    And while the sun and moon endure/Luck's a chance, but trouble's sure,
    I'd face it as a wise man would,/And train for ill and not for good.

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    Re: Economy Unemployment Rate Falls To 5.3 Percent, But For The Wrong Reason

    Quote Originally Posted by pinqy View Post
    Is there a "biting my tongue" emoticon?
    I was going to add...'as you know' to my above post...but I figured it was unnecessary.

    Besides, you (claim to) work/worked at the BLS...I did not.

    Last edited by DA60; 07-02-15 at 01:40 PM.
    'What kind of sick and twisted toy factory is this?'
    'We are all the sum of our tears. Too little and the ground is not fertile, and nothing can grow there. Too much, the best of us is washed away.'
    "Better to be dead and cool, than alive and uncool."

  7. #17
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    Re: Economy Unemployment Rate Falls To 5.3 Percent, But For The Wrong Reason

    Quote Originally Posted by countryboy View Post
    They always "revise down". It really is a joke the way employment is "tracked".
    Completely wrong. As a quick example, all but one month in 2014 was revised upwards:

    Nonfarm Payroll Employment: Revisions between over-the-month estimates, 1979-present

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    Re: Economy Unemployment Rate Falls To 5.3 Percent, But For The Wrong Reason

    Quote Originally Posted by Erod View Post
    We have a record 94 million Americans of working age that aren't in the work force.

    Funny how we constantly hear threats to social security or medicare funding, but you never hear threats to reduce welfare.
    This tired and misleading retort is introduced on only the second post..... Such nonsense deserves the typical tired and misleading response: not in the work force is comprised primarily of the retired, the student, the stay at home mom and the disabled. They are not in the work force because they don't want to be in the work force. The fact they don't have to work, when they do not want to work, is actually a sign of economic health.

    You need to either stop being disingenuous or get better educated on economics if you want to post on such. If you don't like it, then pick outside you local assisted living and tell those deadbeats to get off their duff and get back to work.
    Last edited by upsideguy; 07-02-15 at 10:43 PM.

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    Re: Economy Unemployment Rate Falls To 5.3 Percent, But For The Wrong Reason

    Quote Originally Posted by upsideguy View Post
    This tired and misleading retort is introduced on only the second post..... Such nonsense deserves the typical tired and misleading response: not in the work force is comprised primarily of the retired, the student, the stay at home mom and the disabled. They are not in the work force because they don't want to be in the work force. The fact they don't have to work, when they do not want to work, is actually a sign of economic health.

    You need to either stop being disingenuous or get better educated on economics if you want to post on such. If you don't like it, then pick outside you local assisted living and tell those deadbeats to get off their duff and get back to work.
    And this tired lie is all too familiar and debunked. People are sucking the government welfare teet in record numbers. Fact.

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    Re: Economy Unemployment Rate Falls To 5.3 Percent, But For The Wrong Reason

    Quote Originally Posted by Erod View Post
    And this tired lie is all too familiar and debunked. People are sucking the government welfare teet in record numbers. Fact.
    You clearly do not understand what the Not in Work (or Labor) Force number is. Therefore, you really don't understand this whole issue.

    The tired lie is the world in which you live thinking the Not in the Work Force is an inherently bad number. Its not. The largest component of Not in Work Force are retired persons, followed by students, disable and stay at home moms. Discouraged workers is in the number, but its a very small component of it (about 1-2%).

    The people that are seeking work are actually considered to be in the work force. Therefore, they are not considered "Not in Work Force" and thus changes in unemployment rate do not affect the Labor Participation Rate (unemployment can climb or fall without affecting the Labor Participation Rate) as both the employed and unemployed are considered to be IN the workforce.


    What is Not in Work/Labor Force?

    How are the labor force components (i.e., civilian noninstitutional population, civilian labor force, employed, unemployed, and unemployment rate) defined?
    BLS Glossary
    Labor Force Participation Rate - What Does It Mean?

    Significance of Labor Participation Rate

    http://www.nytimes.com/2014/12/12/up...o-instead.html
    https://businessincanada.com/2014/03...ng-population/
    http://qz.com/286213/the-chart-obama...uth-behind-it/

    Moreover, being on welfare is irrelevant to this number as most people on welfare are in the Labor Force (with most actually working)...

    http://blogs.wsj.com/economics/2015/...eady-have-one/

    Sorry pal, the only "debunking" here is of your reality/command of this issue. I suggest you study up and try again.

    PS - if you think this has been "debunked", let's see your evidence thereof so we can help understand its error. After all, we are all about the truth and not afraid of the facts, right?
    Last edited by upsideguy; 07-03-15 at 10:14 AM.

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